"Animal Feed Market Size, Share, and Opportunities in Future Forecast 2024-2030
Animal Feed Market Feasting on Opportunity, 2023-2030 The animal feed market is a rumbling behemoth, churning with the insatiable appetite of livestock and poultry. Driven by a relentless demand for meat, eggs, and dairy, this market is expected to reach a staggering USD 705.4 billion by 2030 , growing at a CAGR of 4.8% from 2023 to 2030, according to market research firm MRFR. Let's delve into the forces fueling this growth and explore the opportunities and challenges that lie ahead. Appetite for Abundance: Population Boom: With the global population projected to reach 9.7 billion by 2050, the demand for animal-based protein is skyrocketing. This translates to a greater need for efficient and nutritious animal feed to meet the ever-growing appetite. Rising Disposable Incomes: As economies in developing countries flourish, disposable incomes rise, leading to increased consumption of meat and dairy products. This, in turn, fuels the demand for high-quality anim...